What is the law of diminishing marginal product?
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What is the law of diminishing marginal product?
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Law of diminishing Marginal Product

 According to this law, if the units of the variable factor keeps on increasing keeping the level of the fixed factor constant, then initially the marginal product will rise but finally a point will be get to after which the marginal product of the variable factor will start falling. After this point the marginal product of any additional variable factor will be zero, and can even be negative.

For eg: It is usually possible to increase the output of a farm by adding more labour, fertilizers or water, but only upto certain extent. If it were otherwise, any farm could feed the entire world.
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